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LUCKBOX RAISES $17.8M IN HEAVILY OVERSUBSCRIBED PRIVATE PLACEMENT DEAL

Esports & Video Games

LUCKBOX RAISES $17.8M IN HEAVILY OVERSUBSCRIBED PRIVATE PLACEMENT DEAL

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Image credit: Luckbox

TSXV-listed Real Luck Group Ltd, operator of esports-first betting platform Luckbox, has raised $17.8M in a private placement deal. 

The previously announced, upsized, and oversubscribed, private placement of special warrants of the company consisted of a brokered portion, raising $16,980,080.40, and a non-brokered portion, raising $824,700. The Brokered Private Placement was conducted by Gravitas Securities Inc

Commenting on the news Company Chairman, Drew Green, said: “Luckbox’s strong leadership team paired with the current size and growth potential of esports and sports betting led to the Offering being heavily oversubscribed, as investors begin to recognize this attractive sector and opportunity. 

“We are grateful to our investors for their support and this financing puts Luckbox in a strong position to execute on our goals as we strive to further establish the business as a global leader in the esports betting space.”

While Real Luck Group CEO, Quentin Martin, speaking to Proactive, said: “We saw tremendous interest in this offering, which was upsized from $5 million to $15 million and still heavily oversubscribed, and we would like to take this opportunity to thank all of our investors for the support and belief in our company. 

“This financing puts us in a strong position to execute on our growth strategy to further establish Luckbox as a global leader in the esports betting space. 

“On behalf of Luckbox, I’d like to thank you for your continued support.  I look forward to providing future updates about how we are capitalizing on the opportunity in front of us.”

 

AYO.NEWS says:

Luckbox is becoming something of a barometer for the health of the esports betting market – and the degree to which this private placement was oversubscribed indicates the confidence in the market, despite the wider woes of the world. 

Last month, AYO.NEWS’ very own Simona Pinterova caught up with Luckbox CEO, Quentin Martin, to find out how things have gone since Real Luck Group listed on the TSX Venture Exchange in December 2020. 

 

 

Staying with Real Luck Group, last week the company became the latest member of the Canadian Gaming Association (CGA). 

 

 

Co-founder and Chief Editor of AYO.NEWS: Coming from an art and design background, Oliver has a passion for video games and esports, and has several years of experience working at the heart of the iGaming and sports betting industry in Malta.


Esports & Video Games

ESL PARTNERS WITH CONTROVERSIAL RUSSIAN OPERATOR 1XBET

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Image credit: ESL

Esports tournament organiser ESL has announced a partnership with 1xBet, covering the ESL Pro Tour CS:GO and ESL One Summer and Winter Dota 2 events. 

The partnership will see 1xBet serve as official global betting partner of ESL through to IEM Katowice 2022, with both parties collaborating to “enhance the overall experience for esports players and fans.”

Regarding the partnership, Director Global Brand Partnerships at ESL, Jasin Haasbach, said: “We are delighted to have teamed up with 1xBet for the first time in what is a truly global partnership. Here at ESL, experiences are at the heart of what we do and we have no doubt this landmark partnership with one of the global leading sportsbooks will improve the ESL Pro Tour CS:GO experiences for players and fans around the world.”

While 1xBet spokesperson, Alex Sommers, added: “There is no better way to start 2021 than to further build on the successful launch of our already extensive esports offering. We are very happy to have secured this exclusive landmark partnership with the global category leader in the space

“The ESL Pro Tour circuit is the ultimate professional CS:GO competition, and we’re thrilled to become the first-ever global betting partner here. There is no doubt our partnership with ESL will allow us to expand our esports footprint within the global esports community.”

1xBet is no stranger to esports partnerships, having a deal in place with Ukraine-based esports organisations Natus Vincere and HellRaisers. 

 

AYO.NEWS says:

Hmm… those familiar with 1xBet’s reputation might question this one.

In 2019, the UK-facing website of Russia-based 1xBet was taken offline following a widely-publicised Sunday Times investigation that raised serious questions about compliance and legality. A subsequent UK Gambling Commission investigation led to 1xBet losing its license, and the operator’s Premier League football club partners Tottenham, Liverpool, and Chelsea, were forced to cut ties with the company under threat of possible prosecution

According to Wikipedia, in early 2020 the Directorate of the Investigative Committee for the Bryansk Region released the names of the suspected creators of 1xBet (Sergey Karshkov, Roman Semiokhin and Dmitry Kazorin), as defendants in a criminal case related to a scam involving embezzlement and unlawful practice. All three now have Cypriot citizenship, and are thought to have fled to Cyprus to avoid prosecution. The UK has also put them on the international wanted list. 

Despite this, 1xBet continues to sponsor major sports clubs, including FC Barcelona, and operates from Russia, Malta, Cyprus, and Nigeria. In 2020 it won Esports Operator of the Year at the SBC Awards. 

 

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Esports & Video Games

MEDIA & ESPORTS POWERHOUSE REKTGLOBAL ACQUIRES TALENTX ENTERTAINMENT

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Image credit: ReKTGlobal

Global esports infrastructure company, ReKTGlobal, has acquired TalentX Entertainment, and formed a new digital talent management entity called ReKTX

ReKTGlobal had previously worked with TalentX through the TalentX Gaming venture, but ReKTX will now become the company’s talent management division. 

Commenting on the acquisition, CEO of ReKTGlobal, Dave Bialek, commented: “We started ReKTGlobal with a focus on esports, and as a consequence, a predominantly male demographic. This acquisition more broadly positions our company and our offerings to now include a significant female demographic by providing access to creator-driven content.”

While Founder of ReKTGlobal, Amish Shah, added: “Creators have become one of the most influential segments of every major industry. We’re incredibly bullish on this idea of the ‘creator economy,’ so with our already close-knit relationship with TalentX, bringing them into the ReKTGlobal family was a great addition to our diversified portfolio of assets.”

Financial details of the acquisition have not been disclosed, but TalentX will be bringing its portfolio of talent, including creators like Josh Richards, Griffin Johnson, Bryce Hall, Noah Beck, and Blake Gray, to the ReKTGlobal family. 

“I’m incredibly proud of how TalentX Entertainment, the dream I helped turn into a reality with my business partner Michael Gruen, our former CEO Warren Lentz and the ReKTGlobal team, has grown over the past year,” said Josh Richards. “Merging the social media creator world with the gaming world is the next natural step in the process, and this deal with ReKTGlobal is only the next chapter in what has been an amazing journey.”

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Esports & Video Games

CLOUD-GAMING PLATFORM BLACKNUT EXPANDS PARTNERSHIP WITH NACON

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Image credit: NACON

Cloud-gaming platform Blacknut has announced a new deal with French video game publisher NACON, adding titles including WRC 9, Tennis World Tour 2, Blood Bowl 2, and AO Tennis 2

NACON games including Tennis World Tour and WRC 8 were already available through Blacknut thanks to a previous deal, but the latest agreement significantly expands the range of NACON titles available. In addition to the already mentioned games, Blacknut subscribers will be able to enjoy Hunting Simulator 2, Overpass, Pro Fishing Simulator and Tour de France 2020.

“We are excited to sign with Blacknut, thus increasing the number of games available on their service,” said Benoît Clerc, Head of Publishing at NACON. “We love making quality games that provide our players with the best gaming experience, and so working with Blacknut allows us to reach a new cloud gaming audience.”

“We are thrilled about our new partnership with NACON, who is such a renowned publisher in the gaming industry,” said Nabil Laredj, Director, Business Development & Licensing at Blacknut. “NACON’s games, as other publishers’ who are taking advantage of the latest cloud gaming technology, will now be able to reach new players through Blacknut’s cross-device platform and catalogue. We look forward to seeing our partnership continuing to grow in the future.”

NACON’s titles join Blacknut’s constantly growing catalogue of over +400 family-friendly games. Blacknut subscribers can stream and play games on PC, Mac, Android-based tablets and mobile phones, Amazon FireTV, Chromecast and selected models of Samsung Smart TV for a full cross-device experience.

The latest NACON titles will be going live on Blacknut services for gamers across 33 countries, and through partnerships with telecom operators. 

A subsidiary of the Bigben group, NACON specialises in racing, simulation, action-adventure, and sports games via its 10 studios, and also offers a range of gaming accessories. 

 

AYO.NEWS says:

With households now home to a myriad of smart devices, the appeal of cloud-based, cross-platform gaming is becoming self-evident. The convenience of being able to play the same games on multiple devices, coupled with a relatively low monthly fee and no contract to lock you in, is clearly going to be compelling to more and more gamers. The question will be, can platforms like Blacknut secure enough high-calibre games to keep gamers satisfied? 

 

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Esports & Video Games

SOUTH KOREA’S KRAFTON INVESTS €19M IN INDIA’S NODWIN GAMING

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Image credit: Nodwin Gaming

South Korean video game giant Krafton has made a 164 Cr (approx. €19M euro) investment in Indian esports solutions company Nodwin Gaming. 

Krafton’s investment will enable Nodwin to speed development across South Asia, the Middle East, and Africa, strengthening infrastructure and tech, and organising tournament IPs at the national and international level. 

“Esports sits at a wonderful intersection of sports, entertainment and technology where nations such as India can pave the path. With Krafton coming on board, we have an endorsement from the mecca of gaming and esports – South Korea, on what we are building from India for the world based on our competence in mobile first markets.” said Akshat Rathee, co-founder and managing director, Nodwin Gaming.

“Krafton is excited to partner with Nodwin Gaming to help foster the promising esports ecosystem and engage with our fans and players in India,” said Changhan Kim, CEO of Krafton. “Taking the momentum from this partnership, we will explore additional investment opportunities in the region to uphold our commitment and dedication in cultivating the local video game, esports, entertainment, and tech industries.”

A subsidiary of Nazara Technologies, Gurgaon-headquartered Nodwin Gaming was founded in 2014 and has been instrumental in developing the Indian esports scene, bringing major ESL One, PUBG Mobile, and Dreamhack events to the country. 

Best known as the developer behind Player Unknown Battlegrounds – with PUBG Corporation officially merging with Krafton, its parent company, in December 2020, becoming the subsidiary PUBG Studio. At the same time, the group also merged two of its other subsidiary companies, PNIX, Inc, and Delusion Studio, Inc. into a new entity called Rising Wings

In addition to PUBG Studio and Rising Wings, Krafton also owns Striking Distance Studios, and Bluehole Studios

 

AYO.NEWS says:

As we’ve observed many times previously, India, with its huge population, growing wealth and proliferating tech infrastructure, represents one of the world’s most exciting gaming markets. With its strong home base, and now the backing of Krafton, the company is also extremely well-placed to dominate the wider Asian region, and has already started making significant inroads into Africa and the Middle East – again, two extremely promising regions. 

 

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Esports & Video Games

EVIL GENIUSES & WOMEN IN GAMES INT’L LAUNCH ‘PRESS FORWARD’ DIVERSITY & INCLUSION SUMMIT

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North American esports organisation Evil Geniuses (EG), in partnership with Women in Games International (WIGI) has announced the launch of Press Forward: Young Women in Gaming. 

A summit series focused on inspiring young women to pursue careers in the esports and gaming industry, Press Forward: Young Women in Gaming will kick off on 24 April. 

The series will blend career-focused sessions from esports professional gamers, game designers, entrepreneurs from Riot Games, Amazon, 343 Industries and more. In addition to panels and keynotes, the online event will feature resume review, recruiter feedback, and networking over breakout sessions and interactive activities. 

Aimed at young women who are looking to educate themselves on career opportunities in the gaming industry or to add fuel to existing career paths, the event will feature attendance from recruiters at multiple game companies to participate in panel discussions and offer tips on career development.

The guest list for the 24 April event features leaders in gaming including:

  1. Emmalee “EMUHLEET” GarridoDignitas, Captain for CS:GO and VALORANT
  2. Sarah SchneiderHouston Outlaws (OWL), Partnership Account Manager
  3. Candace ThomasAmazon, Lead Game Designer
  4. Noelle Warner – formerly Naughty Dog, Quality Assurance Analyst
  5. Dana HustedtFlorida Tech University, Director of Esports
  6. Kathy ChiangUCI Esports, Assistant Director
  7. Dominique SchultzRiot Games, People Programs Specialist
  8. Ellen Yang343 Industries, Associate Producer

Discussing the initiative, Chief Culture Officer at Evil Geniuses, Jessica Hammond, said: “When we were researching toxicity in gaming for our report Gaming for All earlier this year, it was clear that not everyone feels equally welcomed and uplifted and comfortable within the gaming community – and the gulf was particularly wide when it came to gender.

“We wanted to play an active role in helping to rebalance the playing field and to offer young women a chance to learn and grow their careers in a supportive environment. This event is just the beginning – we look forward to creating multiple touchpoints that tackle diversity and representation and hopefully play our part in creating a more inclusive industry of tomorrow.”

Press Forward: Young Women in Gaming is presented in partnership with Women in Games International, a global organization with a mission to cultivate resources to advance economic equality and diversity in the global games industry, and in collaboration with Queer Women of Esports.

The first Press Forward event will take place on 24 April 2021 from 11am PT, and tickets will go live at 11am PT on Monday, March 8. The event is a ‘pay what you can’ model, removing the barrier of entry for any women who want to learn more about career paths and skills in gaming, regardless of socio-economic backgrounds. For more details and to reserve your place visit here.

 

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Esports & Video Games

GAMES WITH LOOT BOXES FACE SWEEPING NEW RESTRICTIONS IN GERMANY

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Image credit: EA SPORTS

The German Bundestag (federal parliament) has passed a new law regulating video games that feature loot boxes.

According to Spiegel, each game or app featuring loot boxes, or similar in-game products, will now be subject to an age rating of at least 18, and possibly higher. 

Critically, the new law will be applied not only to new releases, but also currently released games, such as the hugely popular FIFA 21 from EA Sports – which is currently approved by the Entertainment Software Self-Regulation Body with no age restrictions. 

However, due to FIFA 21 offering the Ultimate Team mode, which features in-game purchases in the form of card sets, it may soon be subject to age restrictions. 

 

AYO.NEWS says:

The debate about whether or not loot boxes constitute gambling, or are no more harmful than buying packs of trading cards (which kids have done for generations) has been raging for years, without much really changing. However, now that one of Europe’s biggest markets has passed this law, which also applies retroactively to currently released titles, publishers like EA will have to take major action, and fast. Needless to say, this could cause major issues for distribution and current business models.

The question now is, which countries will follow Germany’s lead?

 

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